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Bearish Oil Theme Persists

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The medium-term trend structure in Gold is unchanged and remains bullish. This is reinforced by moving average studies that are in a bull-mode position. Near-term, a continued push higher would refocus attention on $2431.50, the Apr 12 high and bull trigger. A bearish theme in WTI futures remains intact and the current consolidation phase appears to be a pause in the trend. Price has recently breached the 50-day EMA, strengthening a short-term bearish set-up that highlights potential for a deeper correction.

  • WTI Crude down $0.05 or -0.06% at $79.19
  • Natural Gas up $0.02 or +0.8% at $2.514
  • Gold spot up $5.13 or +0.22% at $2382.63
  • Copper up $5.75 or +1.18% at $493.95
  • Silver up $0.07 or +0.25% at $29.6572
  • Platinum down $3.57 or -0.34% at $1059.53
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The medium-term trend structure in Gold is unchanged and remains bullish. This is reinforced by moving average studies that are in a bull-mode position. Near-term, a continued push higher would refocus attention on $2431.50, the Apr 12 high and bull trigger. A bearish theme in WTI futures remains intact and the current consolidation phase appears to be a pause in the trend. Price has recently breached the 50-day EMA, strengthening a short-term bearish set-up that highlights potential for a deeper correction.

  • WTI Crude down $0.05 or -0.06% at $79.19
  • Natural Gas up $0.02 or +0.8% at $2.514
  • Gold spot up $5.13 or +0.22% at $2382.63
  • Copper up $5.75 or +1.18% at $493.95
  • Silver up $0.07 or +0.25% at $29.6572
  • Platinum down $3.57 or -0.34% at $1059.53